President Muhammadu Buhari said on Saturday that the priority of his administration is to ensure national food security before export of food products. The President said this while contributing to a Presidential Panel Roundtable on Investment and Growth Opportunities at the opening session of the Africa 2016: Business for Africa, Egypt and the World at Sharm El-Sheikh, Egypt.

President Buhari stressed that Nigeria being a mono-economy dependent on oil, and with a teeming unemployed youth population, the way out of the current slump in the global oil market, is for the administration to focus on agriculture and solid minerals development. “The land is there and we need machinery inputs, fertilizer and insecticides,” he said.

Reiterating his opposition to the devaluation of the naira, President Buhari said Nigeria cannot compete with developed countries which produce to compete among themselves and can afford to devalue their local currencies.

“Developed countries are competing among themselves and when they devalue they compete better and manufacture and export more. But we are not competing and exporting but importing everything including toothpicks. So, why should we devalue our currency?” the President asked.
According to him, “We want to be more productive and self-sufficient in food and other basic things such as clothing. For our government, we like to encourage local production and efficiency.” He added that those who have developed taste for foreign luxury goods should continue to pay for them rather pressure government to devalue the naira.

President Buhari, who expressed optimism that Nigeria would get out of its current economic downturn, noted that another major problem militating against economic revival is the huge resources deployed towards fighting insurgency and international terrorism. He, however, commended the support being received from the international community in the administration’s fight against terrorism as well as cooperation in tracing looted funds stashed away in foreign countries.

Responding to a question on his performance since he assumed office, the President said that his administration has been quite focused on three fundamental issues of securing the country, reviving the economy and stamping out corruption.

“The message on corruption has been driven home vividly and Nigerians are very acceptable to the message,” he said, adding that those accused of stealing public funds are cooperating by voluntarily providing useful information while investigations and prosecutions are ongoing.
In his opening address at the Forum, the Egyptian President, Abdel-Fattah El-Sisi, said Africa needs to concentrate on transforming into knowledge societies using innovation and research. The Presidents of Gabon, Equatorial Guinea, Sudan and the Prime Minister of Ethiopia also participated at the Roundtable.

In his opening message, the President of the African Development Bank (ADB), Akinwumi Adesina, said that “Africa must think big, act big and develop big.” Before departing Egypt, President Buhari and his Egyptian host, had a bilateral discussion on security, military cooperation, agriculture and solid minerals development.

FEMI ADESINA
Special Adviser to the President (Media & Publicity)
February 20, 2016.

http://www.kingebuka.com/2016/02/president-buhari-admits-government-is.html

cc : lalasticlala

wow I thought you will blame Jonathan as usual





useless man




www.nairaland.com/attachments/3115319_fbimg1448250582417_jpegc4783182a1b9ab0ed04c3f1b5f5e1fbf

We believe in you sir.....

Oko iya Kanu

Waiting for Lie Mohammed to come say

"The honest truth is that the naira is catching up with the dollar, but the past administration will do everything in their power to make sure the public keeps seeing N385 to a dollar. Blame Goodwick, not Mr president ".


... Who did this to us?

wailers carry go

this year started tough,dont be suprised by june a naira will be exchanged to the dollar at 160.

N400 = $1, yet this man is still blabbing

Patiently waiting for that Time to come

chidekings:
this year started tough,dont be suprised by june a naira will be exchanged to the dollar at 160.

Nothing less than I expected
Nigeria must learn to crawl before attempting to fly.
The era of bankers has ended .
The era of cottage industries is now .
Dummy politicians carry head go dey look for foreign investor .
The bunch of beggars Awolowo talked about .
Foreign investor to construct your roads
Foreign investor to grow your cassava
Foreign investor to make your candles .

Nothing more than a bunch of clueless dolts


Cotton value chain
Ginneries,Clothing ,Socks , bra , pants, brands ,mall standard clothing stores, mens and women clothing

Building and construction value chain
Clay Brick, roofing tiles , marble ,floor tiles
Pencil , pen
Shoes

Agriculture value chain
Chocolate , cashew nut snack , vegetable oil , fruit juice and other processed foods,Biscuits and other snacks

Wood and woodwork value chain
Tooth pick , pallets , furnitures, design

These are just a few of the possibilities. You can start a cottage industry in many of these with less than $20, 000 .
We start doing this and then ramp up on quality to start competing in the export market.

peacengine:
N400 = $1, yet this man is still blabbing

you think that's how the naira will fall forever? do you know what exportation can do for our local currency?

“Developed countries are competing among themselves and when they devalue they compete better and manufacture and export more. But we are not competing and exporting but importing everything including toothpicks. So, why should we devalue our currency?” the President asked.
According to him, “We want to be more productive and self-sufficient in food and other basic things such as clothing. For our government, we like to encourage local production and efficiency.” He added that those who have developed taste for foreign luxury goods should continue to pay for them rather pressure government to devalue the naira.

I can't believe the president said to the world we are importing toothpicks. Oh lord!

kodded:
wow I thought you will blame Jonathan as usual





useless man




www.nairaland.com/attachments/3115319_fbimg1448250582417_jpegc4783182a1b9ab0ed04c3f1b5f5e1fbf

Useless man?
Your father never win village head sef, you don ever get assist class monitor for your life?
Nonsense, anufia .
Weya mod ban me